What kind of company is Westinghouse?

Overview of Westinghouse Electric Company

Westinghouse Electric Company is an American nuclear power company that was founded in 1886 by George Westinghouse. The company has its headquarters in Cranberry Township, Pennsylvania.

Over the years, Westinghouse Electric Company has been involved in a wide range of businesses, including the production of electricity and electrical equipment, as well as the development and manufacture of nuclear reactors.

Recent Challenges Faced by Westinghouse Electric Company

Westinghouse Electric Company has faced significant challenges in recent years. In December 2016, Toshiba, the parent company of Westinghouse, announced that it expected to write down its investment in Westinghouse by US$2.5 billion , and that the investment in Westinghouse was possible to cause significant losses. Toshiba later wrote off more than $6 billion and withdrew from the business of building new nuclear power plants. This was largely due to cost overruns at US nuclear reactors, which had been built with the assistance of Westinghouse.

Additionally, in 2017, Westinghouse Electric Company filed for bankruptcy protection after it was revealed that the company had significant financial issues and faced mounting liabilities related to nuclear power plant construction projects.

Westinghouse's History

George Westinghouse, the founder of Westinghouse Electric Company, was a prolific inventor and entrepreneur. He is credited with the invention of the railway air brake, which revolutionized train transportation, and was also a pioneer in the development of alternating current (AC) electrical systems. In fact, the first AC electrical power plant in the world was built by Westinghouse Electric Company in 1895.

Over the years, Westinghouse Electric Company has continued to be a prominent player in the development of nuclear energy technology. The company has designed and built countless nuclear reactors, and has been involved in the development of many of the technological advances in nuclear energy that we see today.

ConclusionWestinghouse Electric Company has played an important role in the development of nuclear energy technology in the United States and around the world. While the company has faced significant challenges in recent years, its contributions to the field of nuclear energy technology remain significant.